NCUA encourages FCUs to participate in HUD program

ALEXANDRIA, Va.-NCUA Chairman Dennis Dollar noted the agency's recognition of the importance of financial literacy, economic development and affordable housing in distressed communities in a recent letter to federal credit unions. "As such, we have sought to identify opportunities for credit unions to develop and implement programs that educate and foster economic empowerment for those who need it," the chairman wrote. He urged federal credit unions to research HUD's rural Housing and Economic Development Program. The Notice of Funds Availability announced the $25 million available through the program, which funds first time homebuyer, home improvement, financial literacy and home ownership counseling programs. Applications are due April 26. Dollar directed interested parties to Jackie Mitchell in HUD's Office of Economic Development [(202) 708-2290 x4611] of the agency's own Office of Credit Union Development at (703) 518-6610.